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TMI Blog2019 (9) TMI 1667X X X X Extracts X X X X X X X X Extracts X X X X ..... btor, the ground taken by the Appellant that the goods were sub-standard, cannot be accepted. In absence of any merit and as the Appellant has not complied with the interim direction of this Appellate Tribunal, no relief can be granted - Appeal dismissed. - Company Appeal(AT)(Insolvency) No. 526 of 2019 - - - Dated:- 6-9-2019 - Justice S.J. Mukhopadhaya (Chairperson), Justice A.I.S. Cheema ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... enable the Resolution Professional to carry on the Corporate Insolvency Resolution Process in a smooth manner. 2. The Adjudicating Authority, taking into consideration the List of Debtors available with the Corporate Debtor, financial report provided by the statutory auditor of the Company, the bills invoices and the entries of the last three years that the Respondent M/s Devmata Exim Pvt. L ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... quantity in fact certain amount to be debited from the account of Shri Veerganapathi Steels Pvt. Ltd. (Corporate Debtor). 4. On behalf of the Appellant it was also submitted that immediately after receipt of the part consignment, Corporate Debtor was informed by letter dated 27.09.2016 that the materials received were not as per the specification mentioned in the Purchase Order with request t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ay 12% interest per annum for delayed payment. 6. This Appellate Tribunal, while issuing notice to Respondent on 16.05.2019 for determination of issue as to whether the Resolution Professional can pray for recovery of any amount of Corporate Debtor, and by interim order, directed the Appellant to keep the amount in a separate Escrow Account. 7. On 05.08.2019, the learned Counsel for the Liqu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 19/- as the Appellant had received and accepted the goods and not returned the same to the Corporate Debtor and sold the goods and realized the cost. 9. Having heard the parties, as we find that the Appellant has sold the goods supplied by Corporate Debtor, the ground taken by the Appellant that the goods were sub-standard, cannot be accepted. From the reason aforesaid, in absence of any mer ..... X X X X Extracts X X X X X X X X Extracts X X X X
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